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1300 Dearborn Road Allen, TX 75002

3 Beds 2 Baths 2,224 sqft Built 1998

$339,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $152.43
  • 3 Days on Market
  • MLS # : 14507385
  • Updated Date : 01/30/2021 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,224 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

Pride of ownership is shown in this one owner corner lot home adjacent to Bethany Lakes Park. Walk in and you are greeted with stained concrete floors throughout the common areas as well as the Master Bedroom. The kitchen features stainless steel appliances and concrete counter tops. The Master Suite has one of the most gorgeous closets you will ever find. The Master Bathroom also has a walk-in closet and an oversized frameless shower with its own dedicated tankless water heater. Outside you will find two covered patios perfect for entertaining. Enter into the fully enclosed sunroom and you have a Hot Tub that has barely been used. The great Schools along with endless upgrades make this home a must see!

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Bethany Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Bethany Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262213

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Lowery Freshman Center High Regular 1,571 104 8
Allen High School High Unknown NA
Lowery Freshman Center High Unknown NA

Lowery Freshman Center

  • Education Level: High
  • # of students: 1,571
  • # of teachers: 104
8
GreatSchools Rating

Allen High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lowery Freshman Center

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,177
Property Tax -$653
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
-$145

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$339,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,249

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,940

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,191

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,0003$2,0004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1300 Dearborn Road Allen, TX 1
    • 3 beds 2 baths ∙ 2,224 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,224 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.87
    •  
  • 1109 Shadow Lakes Boulevard Allen, TX 2
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1993
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 628 Stretford Lane Allen, TX 3
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1995
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
  • 1209 Shadow Lakes Boulevard Allen, TX 4
    • 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 1993
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 804 Amber Court Allen, TX 5
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1998
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
PROPERTY LISTING DETAILS
Justin Slay
Jp & Associates Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507385
Last Updated: 01/30/2021
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